v3.26.1
Condensed Consolidated Statements of Stockholders' Equity - USD ($)
$ in Thousands
Total Plug Power Stockholders' Equity
Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Income/(Loss)
Treasury Stock
Accumulated Deficit
Non-controlling Interests
Total
Beginning Balance at Dec. 31, 2024 $ 1,734,137 $ 9,342 $ 8,430,537 $ (2,502) $ (108,795) $ (6,594,445) $ 73,619 $ 1,807,756
Beginning Balance, shares at Dec. 31, 2024   934,126,897            
Treasury Stock, Beginning Balance, shares at Dec. 31, 2024         20,230,043      
Increase (Decrease) in Stockholders' Equity                
Net loss (196,656)         (196,656) (203) (196,859)
Other comprehensive income (loss) (2,729)     (2,729)       (2,729)
Stock-based compensation 11,087 $ 15 11,072         11,087
Stock-based compensation, shares   1,545,763            
Public offerings, common stock, net of issuance costs 276,053 $ 517 275,536         276,053
Public offerings, common stock, net of issuance costs, shares   51,654,177            
Stock option exercises and issuance of common stock upon grant/vesting of restricted stock and restricted stock unit awards   $ (2) 2          
Stock option exercises and issuance of common stock upon grant/vesting of restricted stock and restricted stock unit awards, shares   (157,005)            
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock and restricted stock unit awards (49)       $ (49)     (49)
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock and restricted stock unit awards, shares         27,027      
Provision for common stock warrants 7,049   7,049         7,049
Additional paid-in capital due to contributions to consolidated VIE (1,971)   (1,971)       1,971  
Principal payment of convertible debenture settled in common stock 30,279 $ 105 30,174         30,279
Principal payment of convertible debenture settled in common stock, shares   10,440,906            
Ending Balance at Mar. 31, 2025 1,857,200 $ 9,977 8,752,399 (5,231) $ (108,844) (6,791,101) 75,387 1,932,587
Ending Balance, shares at Mar. 31, 2025   997,610,738            
Treasury Stock, Ending Balance, shares at Mar. 31, 2025         20,257,070      
Beginning Balance at Dec. 31, 2024 1,734,137 $ 9,342 8,430,537 (2,502) $ (108,795) (6,594,445) 73,619 1,807,756
Beginning Balance, shares at Dec. 31, 2024   934,126,897            
Treasury Stock, Beginning Balance, shares at Dec. 31, 2024         20,230,043      
Increase (Decrease) in Stockholders' Equity                
Net loss               (425,586)
Ending Balance at Jun. 30, 2025 1,681,066 $ 11,658 8,789,434 3,478 $ (105,304) (7,018,200) 82,894 1,763,960
Ending Balance, shares at Jun. 30, 2025   1,165,714,048            
Treasury Stock, Ending Balance, shares at Jun. 30, 2025         18,494,066      
Beginning Balance at Mar. 31, 2025 1,857,200 $ 9,977 8,752,399 (5,231) $ (108,844) (6,791,101) 75,387 1,932,587
Beginning Balance, shares at Mar. 31, 2025   997,610,738            
Treasury Stock, Beginning Balance, shares at Mar. 31, 2025         20,257,070      
Increase (Decrease) in Stockholders' Equity                
Net loss (227,099)         (227,099) (1,628) (228,727)
Other comprehensive income (loss) 8,709     8,709       8,709
Stock-based compensation 13,080 $ 29 13,051         13,080
Stock-based compensation, shares   2,947,415            
Warrants issued with 15.00% Secured Debenture 6,069   6,069         6,069
Stock option exercises and issuance of common stock upon grant/vesting of restricted stock and restricted stock unit awards   $ (1) 1          
Stock option exercises and issuance of common stock upon grant/vesting of restricted stock and restricted stock unit awards, shares   (133,820)            
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock and restricted stock unit awards (158)       $ (158)     (158)
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock and restricted stock unit awards, shares         172,896      
Provision for common stock warrants 9,164   9,164         9,164
Additional paid-in capital due to contributions to consolidated VIE (6,044)   (6,044)       6,044  
Contributions by non-controlling interest             3,091 3,091
Principal payment of convertible debenture settled in common stock 20,006 $ 283 19,723         20,006
Principal payment of convertible debenture settled in common stock, shares   28,295,151            
Exercises of Pre-Funded Warrants 139 $ 1,389 (1,250)         139
Exercises of Pre-Funded Warrants, shares   138,930,464            
Expiration of common stock forward and retirement of related treasury stock   $ (19) (3,679)   $ 3,698      
Expiration of common stock forward and retirement of related treasury stock, shares   (1,935,900)     (1,935,900)      
Ending Balance at Jun. 30, 2025 1,681,066 $ 11,658 8,789,434 3,478 $ (105,304) (7,018,200) 82,894 1,763,960
Ending Balance, shares at Jun. 30, 2025   1,165,714,048            
Treasury Stock, Ending Balance, shares at Jun. 30, 2025         18,494,066      
Beginning Balance at Dec. 31, 2025 978,069 $ 13,943 9,186,314 6,796 $ (2,945) (8,226,039) 25,245 $ 1,003,314 [1]
Beginning Balance, shares at Dec. 31, 2025   1,394,241,538           1,394,241,538
Treasury Stock, Beginning Balance, shares at Dec. 31, 2025         970,588     970,588
Increase (Decrease) in Stockholders' Equity                
Net loss (245,304)         (245,304) (733) $ (246,037)
Other comprehensive income (loss) (3,354)     (3,354)       (3,354)
Stock-based compensation 13,938 $ 14 13,924         13,938
Stock-based compensation, shares   1,432,765            
Stock option exercises and issuance of common stock upon grant/vesting of restricted stock and restricted stock unit awards 90   90         90
Stock option exercises and issuance of common stock upon grant/vesting of restricted stock and restricted stock unit awards, shares   (30,913)            
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock and restricted stock unit awards (37)       $ (37)     (37)
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock and restricted stock unit awards, shares         16,907      
Provision for common stock warrants 5,675   5,675         5,675
Additional paid-in capital due to contributions to consolidated VIE 733   733       (733)  
Contributions by non-controlling interest             300 300
Ending Balance at Mar. 31, 2026 749,810 $ 13,957 9,206,736 3,442 $ (2,982) (8,471,343) 24,079 773,889
Ending Balance, shares at Mar. 31, 2026   1,395,643,390            
Treasury Stock, Ending Balance, shares at Mar. 31, 2026         987,495      
Beginning Balance at Dec. 31, 2025 978,069 $ 13,943 9,186,314 6,796 $ (2,945) (8,226,039) 25,245 $ 1,003,314 [1]
Beginning Balance, shares at Dec. 31, 2025   1,394,241,538           1,394,241,538
Treasury Stock, Beginning Balance, shares at Dec. 31, 2025         970,588     970,588
Increase (Decrease) in Stockholders' Equity                
Net loss               $ (436,139)
Ending Balance at Jun. 30, 2026 581,753 $ 13,980 9,227,977 2,450 $ (3,104) (8,659,550) 5,537 $ 587,290 [1]
Ending Balance, shares at Jun. 30, 2026   1,397,924,047           1,397,924,047
Treasury Stock, Ending Balance, shares at Jun. 30, 2026         1,025,649     1,025,649
Beginning Balance at Mar. 31, 2026 749,810 $ 13,957 9,206,736 3,442 $ (2,982) (8,471,343) 24,079 $ 773,889
Beginning Balance, shares at Mar. 31, 2026   1,395,643,390            
Treasury Stock, Beginning Balance, shares at Mar. 31, 2026         987,495      
Increase (Decrease) in Stockholders' Equity                
Net loss (188,207)         (188,207) (1,895) (190,102)
Other comprehensive income (loss) (992)     (992)       (992)
Stock-based compensation 14,298 $ 7 14,291         14,298
Stock-based compensation, shares   676,325            
Stock option exercises and issuance of common stock upon grant/vesting of restricted stock and restricted stock unit awards 1,546 $ 16 1,530         1,546
Stock option exercises and issuance of common stock upon grant/vesting of restricted stock and restricted stock unit awards, shares   1,604,332            
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock and restricted stock unit awards (122)       $ (122)     (122)
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock and restricted stock unit awards, shares         38,154      
Provision for common stock warrants 5,247   5,247         5,247
Additional paid-in capital due to contributions to consolidated VIE 173   173       (173)  
Distributions to noncontrolling interest             (16,474) (16,474)
Ending Balance at Jun. 30, 2026 $ 581,753 $ 13,980 $ 9,227,977 $ 2,450 $ (3,104) $ (8,659,550) $ 5,537 $ 587,290 [1]
Ending Balance, shares at Jun. 30, 2026   1,397,924,047           1,397,924,047
Treasury Stock, Ending Balance, shares at Jun. 30, 2026         1,025,649     1,025,649
[1] Includes balances associated with a consolidated variable interest entity (“VIE”), including amounts reflected in “total assets” that can only be used to settle obligations of the VIE of $13,641 and $51,801 as of June 30, 2026 and December 31, 2025, respectively, as well as liabilities of the VIE reflected within “total liabilities” for which creditors do not have recourse to the general credit of Plug Power Inc. of $2,566 and $1,311 as of June 30, 2026 and December 31, 2025, respectively. Refer to Note 19, “Variable Interest Entities,” for additional information.